Telligent Fund LP Takes $1.69 Million Position in Lumentum Holdings Inc. $LITE

Key Points

• Telligent Fund LP opened a new position in Lumentum Holdings, buying 2,400 shares worth about $1.69 million. The stake now makes up roughly 1.8% of the fund’s portfolio.
• Institutional ownership remains very high, with 94.05% of Lumentum shares held by institutional investors. Several major funds, including Arrowstreet Capital, Geode Capital, and Norges Bank, have recently increased or initiated positions.
• Lumentum reported better-than-expected quarterly earnings with EPS of $2.37 versus the $2.27 estimate, and revenue rose 90.1% year over year. Analysts remain mostly positive, with an average rating of Moderate Buy and an average price target of $1,012.67.

Telligent Fund LP acquired a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,400 shares of the technology company's stock, valued at approximately $1,687,000. Lumentum makes up approximately 1.8% of Telligent Fund LP's portfolio, making the stock its 19th biggest holding.

Other large investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its position in shares of Lumentum by 18.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company's stock worth $683,661,000 after purchasing an additional 291,591 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Lumentum by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company's stock valued at $521,563,000 after purchasing an additional 123,265 shares during the last quarter. Situational Awareness LP boosted its position in shares of Lumentum by 210.9% in the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company's stock valued at $478,577,000 after purchasing an additional 880,800 shares during the period. Norges Bank acquired a new position in shares of Lumentum in the 4th quarter valued at $474,495,000. Finally, Value Aligned Research Advisors LLC purchased a new position in Lumentum in the 4th quarter worth about $432,062,000. 94.05% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Vincent Retort sold 3,183 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,036,422.85. Following the completion of the sale, the insider directly owned 89,563 shares of the company's stock, valued at $85,438,623.85. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Yuen Wupen sold 3,210 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,062,179.50. Following the completion of the sale, the insider directly owned 81,488 shares of the company's stock, valued at $77,735,477.60. This trade represents a 3.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 41,260 shares of company stock worth $38,859,220 over the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

Lumentum Stock Performance

Shares of LITE stock opened at $837.56 on Wednesday. The company has a market capitalization of $65.16 billion, a price-to-earnings ratio of 155.10 and a beta of 1.48. Lumentum Holdings Inc. has a 1-year low of $97.55 and a 1-year high of $1,085.68. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The stock's fifty day simple moving average is $856.21 and its 200-day simple moving average is $719.22.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. During the same period in the prior year, the business earned $0.57 EPS. The business's revenue for the quarter was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, sell-side analysts predict that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on LITE. UBS Group boosted their price objective on Lumentum from $455.00 to $960.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Citigroup reiterated a "buy" rating on shares of Lumentum in a report on Thursday, July 16th. Loop Capital lifted their target price on shares of Lumentum from $900.00 to $1,400.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Mizuho set a $1,100.00 price target on shares of Lumentum in a report on Wednesday, May 6th. Finally, BNP Paribas Exane upped their price target on shares of Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,012.67.

About Lumentum

Lumentum Holdings Inc, headquartered in San Jose, California, is a leading provider of photonic technologies that enable high-speed optical communication networks and advanced industrial applications. The company designs and manufactures a broad range of lasers, optical modules and subsystems tailored to the evolving requirements of telecommunications carriers, cloud data centers and enterprise networking.

Its core product portfolio includes tunable and fixed-wavelength laser transmitters, coherent optical engines, transceivers for long-haul, metro and data center interconnects, as well as test and measurement instruments.

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